Vince Cable's directors' pay reforms come into effect today

Under legislation piloted by Liberal Democrat minister for Business, Innovation and Skills, Vince Cable, companies will for the first time be subject to a legally binding vote on pay policies. From today, shareholders will finally have the power to link pay of directors to their performance, instead of merely registering protests through advisory votes on remuneration reports.

More on the application of the Enterprise and Regulatory Reform Act here.